Peru has published Supreme Decree No. 137-2023-EF in the Official Gazette, which modifies the reference rate for the purpose of the reduced withholding tax rate of 4.99% for interest payments on foreign non-related party loans. As provided under Article 56 of the Income Tax Law, the 4.99% withholding tax rate may be applied for qualifying interest payments as long as the interest rate on the foreign non-related party loans does not exceed the prevailing preferential rate in the place the loa…